Oh, to be a Fly on the Wall at a Sotheby's Auction
I’ve never been to an auction in my life. But I’ve always assumed they went a little something like this . . .
Maybe real-life auctions aren’t quite like The Golden Girls. At real auctions, I assume people wouldn’t bet against themselves like dear Rose Nylund. Why am I talking about auctions? Because the New York Times piqued my interest. A recent article described how auction houses, like Christie’s and Sotheby’s, are turning art auctions into must-see events. How? By livestreaming on social media sites, like YouTube and TikTok. A business shift that came out of the pandemic has stuck. The general public – not just the ultra-wealthy – can get a glimpse. Hmmm? Is that entertaining? Given all the reality programs showing the rich being rich, what Christie’s and Sotheby’s are doing on social media is not that far-fetched. But is it entertainment? After watching a recent Sotheby’s auction on YouTube, I can honestly say “Yes.” Yes, this is entertaining.
I had some moments of sticker shock, some moments of tension during the various bidding wars, and moments of curiosity. I would pay money, if I had any, to know what the reps on the phone say to their clients during the bidding! “Just another $100,000, can you swing it?” “Come on don’t be cheap, kick in another million.” That would probably would get someone fired, but one can dream about a conversation like that.
The Now and Contemporary auctions, held by Sotheby’s on November 15, was a lively experience, mainly because of the auctioneer Phyllis Kao, who led the “Now” part of the auction. She was a bit snarky, but always in the politest voice possible. She didn’t hesitate to add a little commentary: “8.4 million no hesitation!” “I can do this all night!” “You want to bid more?” But she could also control the room when the bids were going so fast.
This painting by Marina Perez Simão (cool image) was one of the more “inexpensive” items of the night. The bids started at $65,000 and quickly went up and up, before finally selling at $350,000. I did my best to understand some of the hand gestures; waving one’s hand in a certain way can mean a higher bid or hold. Definitely not the place for The Golden Girls.
The first item that gave me true sticker shock was a painting by Jenny Saville. It’s a . . . nude and I’m not showing that here because, hey, I’m new to Substack and don’t know what could get me kicked off. I can say that the OPENING bid of $ 7 million almost made me choke on my apple. The painting eventually sold for $ 9.2 million. Just WOW! And that was just the start of the high bids.
This piece by Frank Stella looks interesting. The colors caught my attention. The price tag was even more eye-catching. We’re now into the second half of the auction, the “Contemporary” portion helmed by auctioneer Oliver (he wasn’t as lively as Phyllis). The bids for the Frank Stella piece started at $8 million before selling at $16 million.
I didn’t stick around for all three-plus hours (if I have one critique, it’s the length of the auction), but I was curious how much one of the Jean-Michel Basquiat pieces would go for. Other than Andy Warhol and Georgia O’Keefe, Basquiat was one of the few artist names I recognized. This self-portrait is quite vibrant and striking. How much does one pay? The bids started at $32 million. 👀 Phew! The final bid was $39 million. I really wanted to be a fly on the wall next to the rep bidding for this. How do you convince your client to pay more? What’s the kicker? Where’s the limit? If that portion of an auction was broadcast . . . now we’re talking entertainment.
If I ever had the funds to purchase one of these (I won’t but one can dream), it would be the painting by Marina Perez Simão. I love the colors. I love the brushstrokes. I could just see it hanging in a sunny beach house overlooking the water. What about everyone else? Take a look at the video. If you could, which painting would you buy?
Upcoming posts:
Throwback Thursday – Lost recap #4, covering episodes seven and eight of season 1. Charlie is suffering through drug withdrawal and one of our survivors is physically tortured.
Monday – No post due to the holiday, instead come back on Tuesday
Tuesday – What I Loved in 2023